Fed Keeping Rates Low for Economic Recovery

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The Federal Reserve is pledging to keep interest rates at a record low for an "extended period."

In a meeting Tuesday, the Federal Open Market Committee -- which sets most policies for the Fed -- left the benchmark rate near zero to help with economic recovery. The rate has been at zero to 0.25 percent since December 2008.

The committee's report on the economy, however, hinted that rates will eventually increase as the market recovers.

In a statement, members said there's evidence "economic activity has continued to strengthen and that the labor market is stabilizing."

Economists believe the Fed will begin making changes no sooner than the second half of 2010.

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